Franchise Feeds

 Hi there, I have been working in the accounts department of a business for several years. It has been a learning experience for me as I have understood the importance of financial planning. It helps in understanding the financial status of the business and predicting its future. The plan has a provision for emergency planning and cost reduction to make sure that business enjoys a positive cash flow. The financial plan is an essential part of the business plan and aids in getting the required funding. The plan has the budget and the projections that are needed to monitor its performance and expenses. Here is an article that will help you understand this better.  https://www.agibookkeeping.com.au/why-is-financial-plan-important-for-your-business/

 Before you buy into a franchise, carefully consider all the legal, financial and business implications. Answering the following questions with your accountant, lawyer or business adviser will help guide your decision of whether to buy a franchise. The franchisor How long has the franchise business been established and what is its reputation? Who owns the franchising organisation and what is their record? Are they members of the Franchise Council of Australia? Are they aware of and fully compliant with the mandatory Franchising Code of Conduct? Read More: https://www.business.qld.gov.au/starting-business/buying-business/buying-franchise/assessing-opportunities

 Choosing the right franchise is about matching your personality, skills, experience and motivation to a particular franchise. It's about getting a good fit between you and the business. Franchisee self-assessment Before choosing a franchise, you need to ask yourself the following questions: Do I have the ability, commitment and personality to run my own business? What are my strengths and weaknesses? What type of business appeals to me? Can I work within the limits of a franchise? Read More: https://www.business.qld.gov.au/starting-business/buying-business/buying-franchise/choosing-right

 Franchising is a business relationship in which you (the franchisee) pay the owner of a business (the franchisor) for the right to market and distribute their goods or services over a fixed period. Buying a franchise can be a smart move, particularly if you haven't owned a business and have no experience being self-employed. Ideally, franchising secures an established brand for a product or service. It provides a proven business model and marketing system, which reduce typical start-up risks. Most franchisors also provide ongoing training and support. Read More: https://www.business.qld.gov.au/starting-business/buying-business/buying-franchise